Ansteel to expand HRC production
2024-04-23 08:32:08 [Print]
BEIJING (Asian Metal) 23 Apr 24 - Anshan Iron and Steel Group (Ansteel), the largest HRC producer in Northeast China, plans to produce 630,000t of HRC in May, up from 510,000t in April.
"We will operate all the four HRC production lines (1,580mm, 1,700mm, 1,780mm, 2,150mm) with full production capacity in May, while halted the 1,700mm line for half a month in April. Therefore, the output of HRC in May would witness the MoM rise of 120,000t to 630,000t," disclosed a sales official from Ansteel. In the meantime, the source disclosed that the purchasing activities of end users increase gradually and the mill almost finishes the sales target for May till now. Ansteel cuts ex-works prices of HRC by RMB100/t (USD14/t) for May production.
Based on an annual production capacity of 15.5 million tons, Ansteel roughly produced 6.1 million tons of HRC in 2023 and 1.7 million tons in the first three months of 2024. The mill does not hold any inventories for the moment.
The current mainstream price of HRC Q235B 5.5mm*1,500mm*C hovers at RMB3,790/t (USD523/t) D/P in warehouse Shenyang, Liaoning, down by RMB10/t (USD1.4/t) from last Friday. Traders move down prices slightly to promote sales, and the demand from downstream industries remains soft.
"We will operate all the four HRC production lines (1,580mm, 1,700mm, 1,780mm, 2,150mm) with full production capacity in May, while halted the 1,700mm line for half a month in April. Therefore, the output of HRC in May would witness the MoM rise of 120,000t to 630,000t," disclosed a sales official from Ansteel. In the meantime, the source disclosed that the purchasing activities of end users increase gradually and the mill almost finishes the sales target for May till now. Ansteel cuts ex-works prices of HRC by RMB100/t (USD14/t) for May production.
Based on an annual production capacity of 15.5 million tons, Ansteel roughly produced 6.1 million tons of HRC in 2023 and 1.7 million tons in the first three months of 2024. The mill does not hold any inventories for the moment.
The current mainstream price of HRC Q235B 5.5mm*1,500mm*C hovers at RMB3,790/t (USD523/t) D/P in warehouse Shenyang, Liaoning, down by RMB10/t (USD1.4/t) from last Friday. Traders move down prices slightly to promote sales, and the demand from downstream industries remains soft.
